BIFORST BERHAD ("BIFORST")
BIFORST today launched its entry into the global logistic space by creating holistic value-eco-solutions surrounding logistics via means of strategic mergers and acquisitions along with an expansion of its current capacity and business offering. As the Asian region continues with positive GDP growth this will create robust growth rates in the logistics sector of the economy.
Group Managing Director Dato' Paduka Hamie Appala Nakkiah today announced BIFORST's plan of undertaking a fund-raising exercise in financing the above aspirations. BIFORST targets to raise up to Ringgit Malaysia Five Hundred Million (EURO 120 million) thereby accelerating the five-year-roadmap.
BIFORST has been in the logistics business for almost two decades, since 2004. The Company is specializing in key industries namely Fast-Moving-Consumer-Goods (FMCG), Cold-Chain and Pharmaceuticals delivery systems which are demonstrated by its blue-chip clients. Some of its long-term clients are Zuellig-Pharma, Coca Cola, Nestle, CP Group and other MNCs.
As part of its competitive strategy, BIFORST intends to complement its current strength with expanded capacity and roll out a universal system that caters for its clients as a one-stop center in the logistics field. The business model enables the group to amalgamate companies it currently owns and will acquire logistic companies in the ASEAN region to create value for the Group. The target countries are Vietnam, Myanmar, Laos, Bangladesh, and India where BIFORST will be establishing regional operational facilities whilst digitalizing key processes of the logistics management system.
BIFORST is prepared for a structural change required for moving forward. "This is our first step to prepare the company for an Initial Public Offering within the next five years with a targeted valuation of beyond Ringgit Malaysia One Billion (Euro 200 million)."
Dato' Paduka said when reached for comment. He further went on to confirm BIFORST was presently working with a Financial Consultant to prepare an offering which will be lodged with the relevant regulators.
About BIFORST Group
BIFORST Berhad is an investment holding company that has within its logistics and the eco-solutions that surrounds the logistics industry. The company was founded by Dato' Paduka Hamie Appala Nakkiah and is headquartered in Kuala Lumpur, Malaysia.
BIFORST's singular purpose is to establish itself as a global logistics solutions company as a one-stop solution center serving clients within the focused industries of FMCG, Cold-Chain and Pharmaceutical.
WISMA BIFORST, G50, Jalan Pinggiran 1/3, Taman Pinggiran Putra, Seksyen 1, 43300, Seri Kembangan, Selangor Darul Ehsan, Selangor, Malaysia.
Source :Biforst Berhad
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